NBP data: In January 2018, the current account of the balance of payments (BoP) posted surpluses in the services account (PLN 6.7 billion), the secondary income account (PLN 1.3bn), and the primary income account (PLN 1.1bn), and a deficit in the trade in goods account (PLN 0.8bn). The balance of the combined current and capital accounts was positive and amounted to PLN 12.1bn.

Preliminary data on Poland’s BoP for January 2018, released by Narodowy Bank Polski on 16 March 2018, show a surplus on the current account amounting to PLN 8.4bn. In the corresponding month of 2017, the balance on the current account was positive and stood at PLN 11.1bn.

Exports of goods stood at PLN 70.2bn and were PLN 3.5bn higher (i.e. 5.2%) than a year earlier. Imports of goods rose by PLN 6.4bn (9.9%) to PLN 71.0bn. As a result, the balance of trade in goods was negative at minus PLN 0.8bn. In January 2017 it was positive at PLN 2.1bn.

Typically, the services balance was positive – it amounted to PLN 6.7bn. Credits on exports of services were PLN 17.7bn, which represented an increase of PLN 1.8bn (11.6%) on the January 2017 figure. Debits stood at PLN 11.0bn, having increased by PLN 0.6bn (5.3%) on the corresponding month of 2017.

The primary income balance was positive and amounted to PLN 1.1bn. In the corresponding month of 2017, it was also positive at PLN 2.8bn. The positive primary income balance resulted primarily from the inflow of funds from the European Union received under the Common Agricultural Policy.

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